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Land Bank Revenues Week Ending Feb. 8

The Martha’s Vineyard Land Bank reported revenues of $153,860 for the business week ending on Friday, Feb. 8, 2019. The land bank receives its funds from a two per cent fee charged on many Vineyard real estate transactions.

Much of the land bank revenue last week came from the town of Edgartown, where four transactions resulted in $111,560. One transaction in Aquinnah earned $11,500. One transaction generated $8,700 in Oak Bluffs. One transaction in Tisbury earned $13,800, and one transaction in West Tisbury generated $8,300.

The land bank uses its revenues to purchase and manage land for purposes of conservation, preservation and passive recreation. To date the agency has participated in the purchase of more than 3,243 acres of Vineyard land.